New Study Offers Detailed Insights on Macadamia Market 2016-2026
Macadamia nut was introduced in the early 1960s to the Kenyan highlands from Australia. Macadamia is a member of the family Proteaceae, native to Australia. Australia and Hawaii are the major producing areas of macadamia with others including eastern and southern Africa, and Central and Latin America. Several species of macadamia exist in Australia but only two species such as M. tetraphylla and Macadamia integrifolia and their hybrids are grown commercially. Production of macadamia nuts in Australia is mainly in eastern shore of Australia (northern New South Wales and south-eastern Queensland). Currently, Hawaii is the largest producer of global macadamia, accounting for around 70 percent of total macadamia production worldwide followed by Australia, around 22 percent, rest is produced by other countries including Malawi, South Africa, Kenya, Guatemala, Mexico, California, Costa Rica, Brazil, New Zealand and China.
Tree nuts include almond, cashew, hazelnut, pistachio, walnut, macadamia, and pecan. Currently, macadamia accounts for around only one percent among all the tree nuts available across the globe. Almond nut dominates the nut segment, accounting for around 34 percent. Increasing health claims for macadamia have witnessed a surge in recent years, which if succeeded is expected to increase the consumption of macadamia nuts among consumers. On the basis of application the global macadamia market is broadly segmented into food industry, and cosmetics industry. In food industry macadamia is widely used in confectionaries including chocolate bar, chocolate covered candy, ice cream and other baking products. In cosmetics industry it is used in shampoos, sunscreens, soaps and others.
Geographically, global macadamia market is segmented into North America, Latin America, Eastern Europe, Western Europe, Asia Pacific excluding Japan, Japan and Middle East & Africa. Currently, North America and Western Europe account for major market share for macadamia however, Asia Pacific excluding Japan is expected to grow significantly in the forecasted years.
Owing to increasing variety of applications of macadamia, various workshop are taking places in order to increase the international trade for macadamia and since capitalise the growing demand for macadamia. Adoption of macadamia in chocolate and ice cream among consumers is expected to drive the demand for global macadamia in the near future. The biggest restraint for macadamia market is increasing crop losses due to immature nuts and moldy / rotten nuts. The crop losses due to these type of nuts accounts for around 50 percent of the total macadamia wastage globally. Thereby, reducing inclination of crop growers for macadamia and thus, hampering the market growth.There is a high opportunity to increase the market share of macadamia in terms of revenue across countries such as Mexico, China, South Africa and others. Companies are investing in these countries through promotional activities in order to increase the footprint of macadamia worldwide.
Some of the key players operating in the global macadamia market are Mauna Loa Macadamia Nut Corp., Hamakua Macadamia Nut Company, MacFarms, Wondaree Macadamias, NAMBUCCA MACNUTS Pty Ltd, Golden Macadamias, Royal Macadamia (Pty) Ltd., Kenya Nut Company Ltd. and MWT Foods Australia.
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